A shopkeeper sells an article at a 10% profit. If the cost price of the article is Rs. 500, find its selling price.
Correct: B
The selling price is given by the formula SP = CP + (CP * P/100), where SP is the selling price, CP is the cost price, and P is the profit percentage. Substituting the given values, we get SP = 500 + (500 * 10/100) = 500 + 50 = 550.